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Bush’s fault?

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  • Two years ago, the Democrats, with great fanfare and much spiteful mirth, took control of both the U.S. House and the U.S. Senate promising great changes and great advances.
  • Are you better off …?
  • Just to review the bidding. On January 5, 2007 (just about the time Nancy Pelosi and her cronies took control of the House):

    – The Dow Jones Industrial Average closed at about 12,400.
    – The New York-based Conference Board said its consumer confidence index was at 110.3.

    – The Bureau of Labor Statistics had the unemployment rate at 4.6%

    – According to CNN a gallon of gasoline, in January 2007, averaged about $2.20.

  • That was then. This is now [September 2008]:

    – Last Thursday at about 1 pm Eastern, the Dow had hit a bottom of about 10,500 before Secretary of the Treasury Henry Paulson and the Chairman of the Federal Reserve Ben Bernanke intervened. That is a drop of about 15% in the Dow from two years ago.
    – The Conference Board’s latest take on the pulse of consumer confidence had it at a very thready 56.9 in August – a drop of about 48%

    – The unemployment rate in August was reported at 6.1% by the BLS an increase of 33%.

  • Gasoline prices are at about $3.70 a whopping 68% jump.
  • What’s changed?

    Rep. Barney Frank (D-Ma) and Sen. Chris Dodd (D-Ct) took control of the House and Senate Banking Committees.
    Rep. George Miller (D-Ca) and Sen. Ted Kennedy (D-Ma) took over their respective Labor Committees.

    Rep. John Dingell (D-Mi) and Sen. Jeff Bingaman (D-NM) became chairs of the Energy Committees.

    From: Mullings

    Let’s be clear, the House controls spending, not the Senate, and not the Executive branch.  Bush must have set that up in a prior incarnation.

    • Thomas Jefferson

    "It is error alone which needs the support of government. Truth can stand by itself."

    Aristotle

    "Only an armed people can be truly free. Only an unarmed people can ever be enslaved."

    Karl Popper

    “A theory which is not refutable by any conceivable event is nonscientific. Irrefutability is not a virtue of a theory (as people often think) but a vice.”